L&T may rope in equity partner for Hyderabad Metro Rail project

Hyderabad: Infrastructure major L&T may rope in an equity partner for its Rs 16,000 crore Hyderabad Metro Rail project, a senior company official said here Tuesday.

L&T Metro Rail (Hyderabad) Ltd CEO and MD V B Gadgil said, "Not at the moment. Sometime (later), we will definitely look at it. If we are able to create value out of the project, then we will definitely look for equity partner".

He was answering to a query whether the company has any plans to induct an equity partner.

The Hyderabad Metro Rail project is supposed to be completed by July, 2017.

Noting that the construction work is going on in full swing, he said, he is hopeful of starting the process of trials by end of 2014.

“The decision on automatic fare collection will be taken in another week’s time. It is in final stages of negotiation. Technical negotiations are over. It is only the commercial negotiations which is left."

The land acquisition for the project has been done to a great extent, he said.

To a query on the status of the project, he said, “We have started all the three corridors. About 10-12 kms, foundations have been laid, about 6 kms piers have come up."